LG Electronics in collaboration with Hedera Hashgraph, an enterprise-grade distributed ledger platform, has today announced that LG has joined the Hedera Governing Council. A total of 39 global organizations from a wide range of industries and geographics will make up the Council which has been designed to enable the most decentralized governance model for a public ledger.
LG has now officially become the 14th member joining the Council. Other big names in the Council include Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London (UCL), and Wipro. LG is the only company in the Council which deals with home appliance manufacturing. As a result, it will work with Hedera and other members of the Council to identify that distributed ledger technology can benefit consumers and supply chain partners by enabling seamless transactions.
The Hedera Hashgraph public network will be used by all members of the Hedera Governing Council to run a node and they will also be responsible for approving Hedera’s roadmap and updates to the platform’s codebase. The decentralization and diversity of the Council are ensured by the members.
Mance Harmon, CEO, and co-founder of Hedera Hashgraph said, “We are thrilled to welcome industry leader LG to the Hedera Governing Council. For many years, LG has been visionary in their approach to adopting new technology in the name of improving the lives of customers and partners worldwide. We look forward to collaborating with LG and their ecosystem to explore the many potential ways that distributed ledger technology can similarly be applied to benefit their customer base.”
“Distributed ledger technology holds the potential to improve customer value and allow enterprises across many sectors to offer new services that take advantage of the trust, security, and speed that it provides,” said Cho Taeg-il, senior vice president of LG Electronics. “We look forward to being a part of the Hedera Governing Council and opportunities where we can collaborate with other leading organizations across a wide range of industries to further develop the application of distributed ledger technology to benefit businesses and consumers alike.”